MPLX LPMPLXEarnings & Financial Report
MarkWest Energy Partners, L.P., a subsidiary of MPLX LP, is a natural gas gathering, processing and transportation company master limited partnership of the United States. In 1988, the company was founded in Denver, Colorado and grew to be Colorado's 13th largest company. In 2015 it was acquired by MPLX, itself a subsidiary of Marathon Petroleum.
Revenue
$2.3B
Gross Profit
N/A
Operating Profit
$1.4B
Net Profit
$1.2B
Gross Margin
N/A
Operating Margin
62.9%
Net Margin
52.6%
YoY Growth
8.6%
MPLX LP Q2 FY2024 Financial Summary
MPLX LP reported revenue of $2.3B (up 8.6% YoY) for Q2 FY2024, with a net profit of $1.2B (up 27.1% YoY) (52.6% margin).
Key Financial Metrics
| Total Revenue | $2.3B |
|---|---|
| Net Profit | $1.2B |
| Gross Margin | N/A |
| Operating Margin | 62.9% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
MPLX LP Q2 FY2024 revenue of $2.3B breaks down across 8 segments, led by Services at $683.0M (30.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Services | $683.0M | 30.3% |
| Products | $388.0M | 17.2% |
| Other | $388.0M | 17.2% |
| Nonrelated Party | $376.0M | 16.7% |
| Related Party | $182.0M | 8.1% |
| Logisticsand Storage | $120.0M | 5.3% |
| Service Other | $84.0M | 3.7% |
| Gatheringand Processing | $34.0M | 1.5% |
MPLX LP Revenue by Segment — Quarterly Trend
MPLX LP revenue by segment across the last 4 reported quarters, showing how each business line (such as Services and Products) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Services | $746.0M | $750.0M | $696.0M | $707.0M |
| Products | $492.0M | $525.0M | $472.0M | $513.0M |
| Other | $675.0M | $618.0M | $639.0M | $627.0M |
| Nonrelated Party | $186.0M | $201.0M | $187.0M | $177.0M |
| Related Party | $151.0M | $151.0M | $140.0M | $185.0M |
MPLX LP Annual Revenue by Year
MPLX LP annual revenue history includes year-by-year totals (for example, 2025 revenue was $9.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $9.7B |
| 2024 | $9.2B |
| 2023 | $8.7B |
| 2022 | $10.0B |
MPLX LP Quarterly Revenue & Net Profit History
MPLX LP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $2.5B | +1.4% | $1.2B | 49.1% |
| Q3 FY2025 | $2.5B | +4.9% | $1.6B | 63.2% |
| Q2 FY2025 | $2.4B | +4.5% | $1.1B | 44.9% |
| Q1 FY2025 | $2.5B | +13.3% | $1.1B | 46.2% |
| Q4 FY2024 | $2.4B | +7.6% | $1.1B | 45.9% |
| Q3 FY2024 | $2.3B | +2.7% | $1.0B | 44.6% |
| Q2 FY2024 | $2.3B | +8.6% | $1.2B | 52.6% |
| Q1 FY2024 | $2.2B | +2.1% | $1.0B | 46.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.17B | $2.25B | $2.35B | $2.42B | $2.46B | $2.36B | $2.46B | $2.45B |
| YoY Growth | 2.1% | 8.6% | 2.7% | 7.6% | 13.3% | 4.5% | 4.9% | 1.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $36.46B | $38.40B | $38.52B | $37.51B | $38.97B | $37.84B | $43.23B | $43.01B |
| Liabilities | $22.81B | $24.52B | $24.53B | $23.50B | $24.90B | $23.79B | $28.70B | $28.48B |
| Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.29B | $1.56B | $1.42B | $1.68B | $1.25B | $1.74B | $1.43B | $1.50B |